Gold rate today, 6 August 2026: Amid news that the Strait of Hormuz could reopen soon, as US President Donald Trump vowed to ink an agreement with Iran, the gold price today climbed to a seven-week high in domestic and international markets. The MCX gold rate today opened upside at ₹1,49,029 and touched an intraday high of ₹1,49,250 per 10 gm within a few minutes of the Opening Bell. In the international market, the COMEX gold price today reached a seven-week high, hitting an intraday high of $4,363.60/oz. However, the precious yellow metal witnessed profit-booking at higher levels and fell to $4,320 per ounce in the international market, while the MCX gold rate remains above ₹1,49,000.
According to market experts, easing tensions in the US-Iran war, in hopes of reopening the Strait of Hormuz, is expected to cool crude oil prices and the buzz around a US Fed rate hike in the near term. This is putting pressure on US Treasury yields, and people are moving their money from US bonds to gold and other safe havens.
Why is the gold price rising today?
On the reasons that are fueling gold rates today, Ponmudi R, CEO at Enrich Money, said, “Gold price today extended its gains despite the improvement in geopolitical sentiment, supported by softer Treasury yields, a weaker dollar, and reduced expectations of aggressive monetary tightening. The metal’s resilience suggests that investors are retaining some defensive exposure while awaiting greater clarity on the Middle East agreement and the outlook for U.S. interest rates.”
“Cooling crude oil prices are putting pressure on the US treasury yields and the US Dollar, as a smooth supply of crude oil prices is expected to contain inflation, and hence the US Fed rate hike looks unlikely in such a scenario,” said Anuj Gupta, a SEBI-registered market expert.
Gold price today: Important levels you must know
On important levels about the MCX gold rate today, Anuj Gupta said, “The MCX gold price today is in a broader range of ₹1,45,000 to ₹1,52,000 per 10 gm, while the smaller range is ₹1,47,000 to ₹1,50,000. This means the MCX gold rate is facing a hurdle at ₹1,50,000 and can touch ₹1,52,000 if it breaks and sustains above ₹1,50,000. In the international market, the COMEX gold price today has an immediate hurdle at $4,320 per ounce. On breaking above this resistance, the precious yellow metal may touch $4,350 per ounce soon.”
Anuj Gupta advised investors to maintain a ‘buy-on-dip’ strategy as the overall trend for the precious yellow metal is positive.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
